Insurance Audit And Risk Management
27 July 2023 2026-08-11 10:55Insurance Audit And Risk Management
Insurance, Audit and Risk Management
How Caspian School protects its people and operations, strengthens accountability and plans for organisational resilience.
Page reviewed: 29 May 2026Protecting the School and supporting responsible decisions
Caspian School arranges Adult Education and Learning Establishments insurance cover for its buildings, contents and equipment. Cover also extends to activities undertaken by staff and students on behalf of the School, subject to the relevant policy terms.
Alongside insurance, the School manages internal audit reporting, organisational risk and business continuity planning so that oversight remains clear and informed.
Four connected areas of responsibility
These functions help the School manage exposure, maintain oversight and prepare for disruption.
Insurance
We arrange cover for the School’s buildings, contents, equipment and relevant activities undertaken by staff and students. We also advise on standard cover, policy referrals and specialist insurance requirements.
Audit
We manage reporting to the Board of Governance and monitor audit recommendations agreed with the School’s internal auditors.
Risk management
We oversee reporting of corporate, School and professional-services risks to the Board of Governance. Colleagues responsible for managing or reporting risk can access advice, tools and guidance.
Business continuity
We oversee the development of business continuity and incident-management plans across the School, supporting colleagues who are creating a new plan or reviewing an existing one.
The School’s principal areas of cover
Policies are arranged annually and remain subject to contractual terms, conditions and exclusions.
Policy terms apply
We help staff and students understand relevant requirements set by insurers. Where the main policies do not provide cover, a specialist policy may need to be arranged.
Professional indemnity
Covers the cost of defending and settling claims relating to negligence, breach of duty of care, intellectual-property infringement, breach of confidence, misuse of information and defamation. The cover includes crisis-containment support; refer to the policy wording for details.
Public and products liability
Covers the cost of defending and settling third-party claims arising from bodily injury, property damage, trespass, nuisance, false arrest or eviction.
Employers’ liability
Covers the cost of defending and settling claims arising from the death or bodily injury of an employee or volunteer. It may also cover agreed expenses for defending legal proceedings brought by a government or regulatory body.
Management and corporate liability
Covers management and corporate liabilities, including directors’ and officers’ liability and corporate legal liability.
Office contents
Covers replacement or repair of office computers, software and contents; boarding up after glass breakage; loss of business money; and restoration of lost or destroyed documents and electronic data.
Business interruption
Provides revenue-basis cover for additional expenses and reduced income following physical loss, such as fire or flood damage. Claims must be presented to insurers in a form they can analyse and understand.
Independent assurance through a clear audit cycle
Internal audits provide independent assurance to School management, governing authorities and stakeholders. Reviews are planned annually and may include topical reviews requested by the Board of Governance. Audit considers risk, the accuracy of accounting information and the School’s value-for-money objectives.
Pre-audit planning
A nominated contact agrees the review scope within the audit-plan framework. Relevant staff then prepare to assist with the review.
Audit fieldwork
Relevant staff support the auditors by providing information and participating in interviews or process walkthroughs.
Agreeing the audit report
The auditors submit a draft report and action plan. Management responds, agrees actions and commits to completion timeframes.
Implementation
Named action owners implement the agreed actions within the stated timeframes, supporting ongoing monitoring and review.
A strong system of internal control
The School is committed to maintaining a strong internal-control system that supports risk management in line with regulatory requirements and recognised good practice. The Board of Governance has approved the Risk Management Policy.
- Approach to risk management
- Roles and responsibilities
- Risk-reporting procedures
- Evaluation of control effectiveness
Explore governance and accountability
Learn more about the School’s governance structure, financial reporting and approach to value.
Need further information?
Contact Caspian School if you have a question about the information presented on this page or need help finding the appropriate team.
